11 July 2022
The Weekly

Central Group is to invest US$825.3mn in Vietnam during the next five years as it further expands its presence in one of Southeast Asia’s fast-growing retail markets. The investment is aimed at helping the group reach US$2.7bn in sales in Vietnam by 2026 and build a presence across 55 provinces. Central Retail said it aims to double its omnichannel sales penetration to 15% and become the leading omnichannel platform in food and property in the country. Vietnam’s retail sales last month rose by 27% year on year, marking the seventh straight month of improvement in retail trade and the strongest pace since April last year, according to the General Statistics Office of Vietnam. That figure in part reflects a low base given much of the country was in Covid lockdown in June last year.